It was reported that Arconic Inc, an aluminum products manufacturer headquartered in the US, said it would start a strategy and portfolio review for its building and construction system unit. Though, a market participant said the company was actually in talks of acquisition offer for its overall business.
Arconic was spun out of Alcoa Corporation in 2016. Activist hedge fund Elliott Management Corporation, has been promoting Arconic to explore a sale since 2017. Additionally, Arconic was in talk with some private equity firms including Blackstone Group LP, Carlyle Group LP, KKR & Co, Onex Corp, as well as Apollo Global Management LLC.
Arconic's products were applied globally in the industries of aerospace, automotive, commercial transportation and packaging manufacturers. About the acquisition, the company would announce the outcome of its strategic review in November 2018.
Arconic to acquired by 5 private equity firms
31 Aug 2018 15:17 reported by Brian Lu
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